Footfall over the last two weeks ended 8 December has averaged -3.1% below the same weeks last year according to Rendle Intelligence and Insights.
Moreover, footfall into stores last week dropped further behind 2023 than the week before (-3.3% last week vs -2.8%).
Shopping centres fared worse than high streets (-4.7% vs -3.3%), which may well be the result of pre-Christmas socialising supporting high streets.
Following Black Friday footfall saw a week on week drop into stores of -9.1% followed by a rise of only +7.5%, which is “disappointing”.
Diane Wehrle, CEO of Rendle Intelligence and Insights, said: “It seems that my prediction for a “cautious Christmas” for consumer spending is playing out. Retailers will need to hold on to the hope that consumers are planning on a late dash to stores to purchase gifts.
“Will this lead to pre-Christmas discounting? Almost certainly, and a number of retailers have already started. On the plus side, with Christmas falling on a Wednesday there is a full week and then two additional days left to capture consumer spend. We might yet see a Super Saturday on 21 December!”
